Cambridge, MA CBRE/New England’s Capital Markets team completed the sale of 625 Massachusetts Ave., a 122,104 s/f, first class office and retail building in one of the world’s most sought-after core markets. The asset, which houses retail tenants such as Boston Sports Clubs, Walgreens and TD Bank and is home to WeWork’s Cambridge’s location, traded hands for $75 million.
CBRE/NE’s Capital Markets experts Dave Pergola and Brian Doherty represented the seller, L&B Realty Advisors, and procured the buyer, a partnership between Lincoln Property Company and Chile-based Stars Investments.
Located in the one of the most expanding neighborhoods in the city, 625 Massachusetts Ave. is a transit-oriented location that features access to the MBTA’s Red Line at Central Station. The property is one stop from both Kendall and Harvard Sqs., and four stops from downtown Boston, providing accessibility to Harvard University, MIT and over 11 million s/f of office and laboratory users.
625 Massachusetts Ave. presents the opportunity to acquire a mixed-use office and retail building in an unmatched, rapid-transit, supply-constrained global gateway market with ultra-low vacancy rates.
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Mass., Conn., R.I., Maine and N.H.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
LPC Boston is one of New England’s premier full-service real estate providers, specializing in property management, brokerage, valuation & consulting, and development & construction management. With over 18 million square feet of leasing and management assignments and representing the interests of tenants in numerous lease transactions annually, Lincoln maintains a dominant presence in the Greater Boston/New England real estate market.